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Nov 28, 2012
11/12
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they're important for deficits and debt. but the real question is will people's salaries and incomes grow before they pay their taxes? host: on the republican side they argue you have to extend the tax cuts for everybody otherwise small businesses will be hurt. how did small businesses do under president clinton? guest: small businesses did well under president clinton. the dot-com boom and the peace dividend at the end of the cold war, and relatively good economic policies lifted economic growth for everyone. the fact that clinton had higher income taxes and that helped the deficit, that helped quite a bit. but it was overall economy, overwhelmed, the strength of the overall economy overwhelmed the tax policy questions of the 19 0s. host: ok. from nebraska, a democratic caller. caller: hello. are you there? host: we're listening. caller: ok. my question was on the tax increases. the tax increase for the top earners of the country, over $250,000, does this include businesses making $250,000 or is that just two individuals th
they're important for deficits and debt. but the real question is will people's salaries and incomes grow before they pay their taxes? host: on the republican side they argue you have to extend the tax cuts for everybody otherwise small businesses will be hurt. how did small businesses do under president clinton? guest: small businesses did well under president clinton. the dot-com boom and the peace dividend at the end of the cold war, and relatively good economic policies lifted economic...
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Nov 27, 2012
11/12
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it has not added one penny to the deficit. for those who say there is a good reason to push it off the table and we brought another day, i would add a note of caution. small changes made today in social security will play out over the long run it to buy solvency for a long time. i think we should take social security off the table for the current fiscal cliff but be very honest about what we're going to achieve in the near term. i think we should create the equivalent of the simpson- bowles commission for social security and give them eight months to a year to come up with a planned to buy us 75 years of solvency for social security. then bring it to the floor for a vote and allow any bipartisan group who can come up with a credible plan that meets the same goal to offer their own to be voted on in the senate and house. i might add a wrinkle here that senator mark warner came up with that i think is sensible. there should be a decennial process. every 10 years, but they should measure whether or not social security still has 7
it has not added one penny to the deficit. for those who say there is a good reason to push it off the table and we brought another day, i would add a note of caution. small changes made today in social security will play out over the long run it to buy solvency for a long time. i think we should take social security off the table for the current fiscal cliff but be very honest about what we're going to achieve in the near term. i think we should create the equivalent of the simpson- bowles...
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Nov 28, 2012
11/12
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and actually it make ours deficit worse system of we need to get this right. i can only do it with the help of the american people. so tweet, what was that again, #my2k. tweet using the hashtag #my2k. post it on a member of congress' facebook wall, email, to what it takes to communicate a sense of urgency. we've got a few weeks to get this thing done. we could get it done tomorrow. now, optimistcally, i don't think we're going to get it done tomorrow. but i tell you if everybody here goes out of their way to make their voices heard and spread the word to your friends and family, co-workers, neighbors, then i am confident we will get it done. and we will put america on the right track, not just for next year but for many years to come. all right? thank you very much, everybody. [applause] [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> president obama from within the last half-hour. his press spokesman, jay carney is brief regular porters now, you can follow that on c-span.org. word that presid
and actually it make ours deficit worse system of we need to get this right. i can only do it with the help of the american people. so tweet, what was that again, #my2k. tweet using the hashtag #my2k. post it on a member of congress' facebook wall, email, to what it takes to communicate a sense of urgency. we've got a few weeks to get this thing done. we could get it done tomorrow. now, optimistcally, i don't think we're going to get it done tomorrow. but i tell you if everybody here goes out...
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Nov 26, 2012
11/12
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however, the cbo projects that under a possible such a policy assumptions the deficit could still be greater than 4% of gdp in 2018, assuming the economy has returned to its potential by then. moreover, under the protection, the deficit and the ratio of federal debt to gdp would subsequently returned to an upward trend. we should all understand that long-term projections of ever increasing deficits will never accept underpass because the willingness of lenders to continue to fund the government can only be sustained by a responsible fiscal plans and actions. a credible framework to set a better fiscal policy, one in which the ratio of federal debt to gdp eventually stabilizes or declines, is urgently needed to maintain stability. even as policy-makers address the urgent issue of longer run out stability, they should not ignore a second key objective, to avoid unnecessarily adding to the head winds that are already holding back the economic recovery. fortunately, these objectives are compatible and mutually reinforcing. preventing a sudden and severe contraction in fiscal policy early
however, the cbo projects that under a possible such a policy assumptions the deficit could still be greater than 4% of gdp in 2018, assuming the economy has returned to its potential by then. moreover, under the protection, the deficit and the ratio of federal debt to gdp would subsequently returned to an upward trend. we should all understand that long-term projections of ever increasing deficits will never accept underpass because the willingness of lenders to continue to fund the government...
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Nov 26, 2012
11/12
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the deficit, the widest measure of trade, runs about 4% to 5% gdp now. manufacturing is about 11% of gdp. service hervey produces and exports. how the square the circle? >> thank you. with a lot of questions on the table from energy and whether we should have ambiguity on what is in the south china sea or not. indian ocean base is, human rights, and the question about borrowing from china to save china. i will start with paul. >> i will start with human- rights question first because i know it is a real strategic dilemma for nations that are engaged primarily economically with china, because there always has to be a human rights imperative. it is either the elephant in the room or is the challenge to getting into the agreements you want to be in. that the said, there are 400 or 500 million chinese living on the same per capita income as nigeria with $2 a day. that is always a real concern for the chinese and a one-party state where the military and internal security forces are also party entities. a real challenge. i want to touch on the question about o
the deficit, the widest measure of trade, runs about 4% to 5% gdp now. manufacturing is about 11% of gdp. service hervey produces and exports. how the square the circle? >> thank you. with a lot of questions on the table from energy and whether we should have ambiguity on what is in the south china sea or not. indian ocean base is, human rights, and the question about borrowing from china to save china. i will start with paul. >> i will start with human- rights question first...
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Nov 29, 2012
11/12
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it doesn't add to the deficit. in fact, it needs to be -- if any change needs to be made to it, it needs to be on the own freestanding. social security is one of the greatest programs this country has ever produced. it helps literally millions and millions of senior citizens and people on disability and people who receive survivor benefits and it's a great program and we should continue to support that program. we don't need to mess with it. when we do want to reform it, it needs to be something that will preserve benefits for people. and allows the program to continue. it's a solid program and it doesn't need to be in these budget entanglements. i hope americans really get the fact -- some people say, well, ok, you're right social security doesn't add to the deficit. let's talk about it anyway. let's talk about it for a minute anyway even though it shouldn't be considered. here's what could be said, mr. speaker, by someone who wants to defend the excellent program known as social security. they might say shouldn't
it doesn't add to the deficit. in fact, it needs to be -- if any change needs to be made to it, it needs to be on the own freestanding. social security is one of the greatest programs this country has ever produced. it helps literally millions and millions of senior citizens and people on disability and people who receive survivor benefits and it's a great program and we should continue to support that program. we don't need to mess with it. when we do want to reform it, it needs to be...
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Nov 28, 2012
11/12
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we can't carry deficits in our state constitution. so you can't tell a baby to just go out and get a job. let's work together to protect these critical programs for women and children. it's time to change direction. it's time to acknowledge that elections matter, and it's time to listen to the american people. . this bus is headed over a cliff at great speed, and it's time for the people in the majority, the people in the driver's seat here in the house to take a turn and to change it. what would happen if we went into sequestration and if the middle class tax cuts expired, that would be an income of over -- an increase -- a tax of $2,000 on average against every middle-class family in america. failing to take action would slow the growth of our own real g.d.p. by 1.4 percentage points in 2013. and this continued gridlock would throw the united states back into a recession and cause the jobless rate to go up. congress is going to be stuffing, i would say, a big ugly lump of coal into the stockings of the american workers if we don't s
we can't carry deficits in our state constitution. so you can't tell a baby to just go out and get a job. let's work together to protect these critical programs for women and children. it's time to change direction. it's time to acknowledge that elections matter, and it's time to listen to the american people. . this bus is headed over a cliff at great speed, and it's time for the people in the majority, the people in the driver's seat here in the house to take a turn and to change it. what...
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Nov 29, 2012
11/12
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budget deficit by over $1 billion over the next five years. . that is unpaid for as well. so again there are many ways that immigration can be looked at to reduce our budget deficit, and many concepts of comprehensive immigration reform, either through fees paid by those who violate the law, penalties paid, increased taxes going forward for those who would have to pay taxes under immigration reform, would actually reduce our deficit, but here we are with a solitary idea around immigration that forces all members of this body to weigh two valuable programs against one another. and at the same time cost taxpayers over $1 billion over the next five years. it's a choice that congress shouldn't face. there are also very legitimate concerns that not only does this bill weigh two valuable programs , but in fact it's a backdoor way to reduce the number of legal immigrants. there should be no hesitation in saying it by reducing the number of legal immigrants we will increase the number of illegal immigrants. so again this bill will likely increase the nu
budget deficit by over $1 billion over the next five years. . that is unpaid for as well. so again there are many ways that immigration can be looked at to reduce our budget deficit, and many concepts of comprehensive immigration reform, either through fees paid by those who violate the law, penalties paid, increased taxes going forward for those who would have to pay taxes under immigration reform, would actually reduce our deficit, but here we are with a solitary idea around immigration that...
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Nov 27, 2012
11/12
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the president has on the table a proposal that reduces the deficit by $4 trillion, that does so in a balanced way that includes substantial cuts to discretionary, nondefense spending, over $1 trillion, that includes revenue and includes $430 billion from our health care entitlement programs. that is substance. so he has not waited for people to start smelling the jet fumes at national airport. he's actively put forward a plan that -- >> [inaudible] >> i don't know of secretary geithner's precise whereabouts. i can at this moment he was here earlier this morning. i can tell you that members of the president's team are continuing to work on this issue, as are members of congress' team and the congressional leader's team. it does not, i think, make a lot of sense to simply say never mind, the american people and business leaders and small business leaders and civic leaders and labor leaders, you know, cut them out of the process and stop the conversation. the president thinks that's a big mistake. >> [inaudible] wouldn't it suggest to people and the markets that the president meeting wi
the president has on the table a proposal that reduces the deficit by $4 trillion, that does so in a balanced way that includes substantial cuts to discretionary, nondefense spending, over $1 trillion, that includes revenue and includes $430 billion from our health care entitlement programs. that is substance. so he has not waited for people to start smelling the jet fumes at national airport. he's actively put forward a plan that -- >> [inaudible] >> i don't know of secretary...
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Nov 26, 2012
11/12
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congress handed us $487 billion to reduce the deficit -- the defense budgets over 10 years. my approach was to say, wait a minute. we are not just going to cut across the board. we are not just going to hollow out the force as we have done in the past. every time we have come out of the war, whether it was korea, vietnam, the cold war, we cut the budget across the board, and we hollowed out the force. we are not going to repeat that mistake, so for that reason, i said to my service chiefs, chairman of the joint chiefs, we have got to sit down and develop a strategy for the future that will provide the defense force for the 21st century, not just now but in the future, and then we will build our budget around that strategy, so one, we know we are going to be smaller. that is the reality of having at of these wars, but we have to be agile. we have to be flexible, and we have to be on the cutting edge of technology. we are going to have to have force projection in the areas with the biggest problems in the pacific and the middle east. we have to have a presence elsewhere in the
congress handed us $487 billion to reduce the deficit -- the defense budgets over 10 years. my approach was to say, wait a minute. we are not just going to cut across the board. we are not just going to hollow out the force as we have done in the past. every time we have come out of the war, whether it was korea, vietnam, the cold war, we cut the budget across the board, and we hollowed out the force. we are not going to repeat that mistake, so for that reason, i said to my service chiefs,...
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Nov 29, 2012
11/12
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senate to pass important legislation, including the grand rudman deficit law. those issues remain important today. he did not aspire to be a politician. he did not have to like one. he cared deeply. we know he cared deeply about our country and devoted himself because he had a calling to shape and preserve our country's future. he believed deeply in the rule of law and used the force of his intellect to defend it. one of the things that is most telling about warren rudman is the statement that represents what he was all about. he once said -- i consider myself an american first and a republican second, fiercely independent, and totally committed to the common good. he had the carriage of his convictions and stood for what he believed in. in bidding farewell to to the senate in 1992, he expressed gratitude for the opportunity to serve in the senate which talented colleagues. many are here today to speak about their experiences with him. he expressed his hopes for the future of the senate, saying it is a special place with special people. i hope in the coming yea
senate to pass important legislation, including the grand rudman deficit law. those issues remain important today. he did not aspire to be a politician. he did not have to like one. he cared deeply. we know he cared deeply about our country and devoted himself because he had a calling to shape and preserve our country's future. he believed deeply in the rule of law and used the force of his intellect to defend it. one of the things that is most telling about warren rudman is the statement that...
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Nov 26, 2012
11/12
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especially in gop support for a deficit deal. as negotiations continue over the fiscal cliff, we go back to august 2011. reviewing some of the debate and news conferences, the budget control act created those cuts set to take effect in january. that begins tonight at 8:00 eastern here on c-span. >> you listen to maitre bloomberg who said that the damage was unprecedented. that it may be the worst storm the city has ever faced. governor christie said the damage in new jersey was unthinkable. we had a fires. we had hurricane-force winds. we had massive of flooding. we had feet of snow. you look at that, the flooding of the subway systems, the shutdown of the stock exchange, you start to get a sense of the massive scale and scope of this storm. and yet, the networks performed. carry dozens of stories about how many consumers only wink to information was through their smartphones. linking social media and their smartphone. while there was obviously an impact, i think the networks performed really well. >> some networks did well, some
especially in gop support for a deficit deal. as negotiations continue over the fiscal cliff, we go back to august 2011. reviewing some of the debate and news conferences, the budget control act created those cuts set to take effect in january. that begins tonight at 8:00 eastern here on c-span. >> you listen to maitre bloomberg who said that the damage was unprecedented. that it may be the worst storm the city has ever faced. governor christie said the damage in new jersey was...
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Nov 27, 2012
11/12
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and we know that the only way we can solve our long-term debt and deficit problem is to fix the unsustainable growth rates of our very popular entitlement programs. the president has indicated an openness to that and now's the time to actually do it. and i hope we can put all this divisiveness behind us and build the confidence and relationships on a bipartisan basis, which would help us get there here at the end of the year. >> the president and leader reid said social security should be off the table. what's your reaction to that? >> all of the entitlements need to be discussed, because they all to one degree or another are on an unsustainable path. medicare is in more immediate danger. we want to save these programs and i understand the dilemma that the president and the majority leader have. they don't want to change anything. they think any commitment made by the federal government on any program at any time ought to be there forever. well, times change. and until we make sure these popular entitlement programs fit the demographics of the changing america, we can't save them. we all know
and we know that the only way we can solve our long-term debt and deficit problem is to fix the unsustainable growth rates of our very popular entitlement programs. the president has indicated an openness to that and now's the time to actually do it. and i hope we can put all this divisiveness behind us and build the confidence and relationships on a bipartisan basis, which would help us get there here at the end of the year. >> the president and leader reid said social security should be...
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Nov 23, 2012
11/12
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as a clinician that these kids and families and our clinics in seeing the major education deficit on the fields today in all sports frankly, but also seeing the outcomes. some of the things that raise talking about in terms of understanding forces is really important and we just completed some work in developing measures they are using so we can understand their cognitive symptom kinds of effects of these to kids. i think that's very, very important outcome to what we need to link up with the games. from the perspective -- actually was at the aspen institute this summer, where u.s. nabobs question about, should we be eliminating football -- tackling a football before the age of 14. at that point i couldn't speak, although we did speak that night. one of the things i said as we've got to change things. in its current form of credit problem. although the age limit is something that has to be further studied here it is going to finish my comments with research, but maybe starts with research in trying to understand what evidence do we have. one of the things that is hopeful that i've se
as a clinician that these kids and families and our clinics in seeing the major education deficit on the fields today in all sports frankly, but also seeing the outcomes. some of the things that raise talking about in terms of understanding forces is really important and we just completed some work in developing measures they are using so we can understand their cognitive symptom kinds of effects of these to kids. i think that's very, very important outcome to what we need to link up with the...